XRP, Ledger, and ETF Decisions: A New York Minute on Crypto's Crossroads

XRP's ledger hits milestones as ETF decisions loom. Will institutional interest and on-chain activity converge for a bullish Q4?

XRP is at a pivotal moment. Ledger milestones, whale activity, and ETF speculation are converging. Will it break above $3 and surge to new heights?

100 Million Ledgers: XRP's Quiet Achievement

The XRP Ledger is about to hit 100 million ledgers, showing consistent growth since 2022. This milestone reflects adoption and resilience in a competitive blockchain landscape. Ledger activity mirrored XRP's price shifts, climbing even when the token was below $0.40 in 2023. Now, with XRP consolidating between $2 and $3 in 2025, ledger growth provides a foundation of stability.

Whales Are Accumulating: Are They Betting on ETFs?

Large holders have accumulated around 120 million XRP in just three days. This surge in buying coincides with the anticipation of the SEC's decisions on spot ETF applications tied to XRP, expected in October. Institutional interest seems to be building, hinting at a potential catalyst for price movement.

The ETF Factor: A Make-or-Break Moment

The market is closely watching the SEC's ETF decisions. Approval could inject institutional capital into XRP, driving prices higher. Franklin Templeton's decision is due November 14, and Grayscale's is expected October 18. These dates could be game-changers for XRP's trajectory.

Debunking the Gold-Backed XRP Myth

Former Ripple director Matt Hamilton debunked claims that XRP could be gold-backed and reach nearly $3,000 by 2026. He emphasized that XRP has a fixed supply, making it technically impossible to back it with gold. XRP derives its value from demand, adoption, utility, and ecosystem growth, not precious metals.

XRP vs. Bitcoin: A Hashing Debate

Hamilton also sparked debate about XRP's role in the crypto space compared to Bitcoin. He argued that the XRP Ledger uses a similar hashing mechanism to Bitcoin, grouping transactions into blocks and creating an immutable record. He even suggested XRP could be more profitable than Bitcoin, though that's a bold statement, even for a New Yorker!

Technical Analysis: Riding the Wave?

XRP is currently trading around $2.86, attempting a recovery wave. Key support levels are around $2.75, while resistance sits near $2.88. Overcoming this resistance could lead to a bullish target of $3.62. However, historical data shows October can be a challenging month for XRP, with average returns declining about 4.58% since 2013. Despite October's struggles, November and December have historically been strong months for XRP rallies.

My Take: Optimism with a Pinch of Salt

While ETF approvals and on-chain activity are promising, remember that crypto is a rollercoaster. October's historical performance suggests caution. Still, if XRP can maintain key support levels and break through resistance, Q4 2025 could be a wild ride. The historical data from Q4 in the previous years suggest a potential for substantial price movement.

So, buckle up, crypto enthusiasts! Will XRP defy historical trends and surge to new heights? Only time (and the SEC) will tell. But one thing's for sure: it's never a dull moment in the world of crypto!